Economists warn of £10bn tax rise after election

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Tax increases worth up to £10 billion look set to be introduced after the next
general election to stave off further unpalatable spending cuts, leading
economists warned today.

The Institute for Fiscal Studies said that the Chancellor had already
pencilled in another £25 billion saving in the two years from 2016 to 2017,
on top of the £11.5 billion announced yesterday.

But Paul Johnson, the director of the IFS, doubted whether such a reduction
could be made through spending cuts alone, particularly as several
departments have already had their budgets cut by 35 per cent.